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Facor Steels Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on May 26, 2008, inter alia, have unanimously passed the following special resolution:

- The Board of Directors of the Company to acquire, by way of subscription, purchase or otherwise, the securities, including Equity Shares and / or Redeemable Preference Shares, of Wardha Power Co. Pvt. Ltd for a sum of Rs 7.15 Crores (Rupees Seven Crores Fifteen Lacs only) in one or more tranches as may be considered appropriate by the Board of Directors of the Company, and such investment will be over and above the limits, if any, available to the Board of Directors of the Company under section 372A of the Companies Act, 1956, subject to necessary provisions & approvals.

Tags: Facor Steels

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